Pandora (P) Tops Q2 EPS by 8c; Guides FY16 Revenue Below Views

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Go back to Pandora (P) Tops Q2 EPS by 8c; Guides FY16 Revenue Below Views

Pacific Crest Cuts Pandora (P) to 'Underperform' on 'Deteriorated Core Economics'

July 22, 2016 6:47 AM EDT

Pacific Crest downgraded Pandora (NYSE: P) from Sector Weight to Underperform. The change follows the release of Q2 results. Analyst Andy Hargreaves noted "deteriorated core economics."

"Pandora's core operating leverage has deteriorated and we see little prospect for meaningful profits in on-demand. While M&A is possible, we do not view it as likely at the current valuation. We do... More